Kevin Hassett, Director of the National Economic Council, stated that if nominated as Federal Reserve Chair, he would consider President Donald Trump's policy views, but the Fed's interest rate decisions would remain independent.
"The President has strong, well-founded opinions on what we should do," Hassett, the White House chief economic adviser, said during an appearance on CBS's "Face the Nation" on Sunday.
"But ultimately, the Fed's duty is to maintain independence, working with members of the Federal Reserve Board and the Federal Open Market Committee to reach a collective consensus on interest rates," he added.
Hassett's remarks came in response to Trump's comments on Friday, where the President asserted he should have the right to offer suggestions on the Fed's interest rate decisions.
For months, Trump and his senior advisers have pressured Fed Chair Jerome Powell to cut rates while also considering potential successors. Powell's term as Fed Chair ends in May next year.
Hassett is seen as a leading candidate for the position, though Trump also met with former Fed Governor Kevin Warsh last week. In an interview on Friday, Trump named both as top contenders for the Fed Chair role.
On Sunday, Hassett sought to clarify that even if Trump only offers advice, he would be one of many experts worth consulting.
Hassett told CBS that even as Fed Chair, "I would love to talk to the President every day until one of us dies because it's so much fun to talk to him."
However, he denied that the President's influence would carry equal weight to FOMC voting members, stating policymakers could freely reject Trump's views and "vote differently."
"No, it wouldn’t—his opinion doesn’t carry weight," Hassett said. "It only matters if his opinion is reasonable and backed by data."
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